No Surprise in On-Farm Stocks Estimates

VANCOUVER - Feb 7/10 - SNS -- Statistics Canada's stocks in all positions report may have been disappointing to market bulls, but the quantity of specialty crops and pulses still remaining on farms at the end of December were not surprising.

Available supplies of lentils, field peas, mustard and sunflower seed were up over the same period last year; while the quantity of canaryseed and chickpeas on farms in western Canada and in the hands of commercial traders were down from last year.

Statistics Canada based its onfarm stocks estimates on a survey of 11,400 Canadian farmers between January 4 and 11. Farmers were asked to report the amounts of grain, oilseeds and special crops in on-farm storage. Data on commercial stocks of western major crops originate from the Canadian Grain Commission. Data on commercial stocks of special crops originate from a survey of handlers and agents of special crops.

Looking at other crops, Statistics Canada said total stocks of canola stood at 8.8 million metric tons (MT), down 4.3% or 389,000 MT from December 31, 2008. Canola supplies were down as a result of a 6.5% production decline in 2009. Commercial stocks rose 26.8% to 1.0 million MT, while Prairie on-farm stocks were down by 7.0% to 7.8 million MT.

Total stocks of soybeans reached 2.2 millions MT, up 9.2% from December 31, 2008, the result of an increase in production in Ontario in 2009. The five-year average is 2.2 million MT. In Ontario, on-farm stocks rose 21.9% to 975,000 MT, while Quebec on-farm stocks decreased 14.6% to 205,000 MT.

Total stocks of grain corn were down 8.3% from December 31, 2008, to 8.6 million MT, the result of less production in 2009. The five-year average is 8.7 million MT. On-farm stocks fell in both Ontario and Quebec. Commercial stocks of grain corn (-2.6%) also declined.